Question

a borrowed 2000 from at 8% per annum. After 6yr he cleared the account by giving rs. 2500 and a watch find. Find the cost price of the watch?

Answer 1

PRT÷100=2000*8*6÷100=960
So each year he pays ₹960
Given that the loan is repaid in 6 years
Therefore loan amount=960*6=5760
Now,cost of watch=5760-2500=3260